Allianz Capital Partners secures EUR600mn first close for AGDIEF

Allianz Global Investors (AllianzGI) has secured the first close of its first global infrastructure fund, Allianz Global Diversified Infrastructure Equity Fund (AGDIEF). 

The fund, which was launched earlier this year and is managed by Allianz Capital Partners (ACP), attracted commitments exceeding EUR600 million (US$704.25 million) from institutional clients. The AGDIEF will invest in leading infrastructure fund managers and will pursue co-investments alongside such managers globally. The target size of the fund amounts to EUR900 million (US$1.057 billion). It will invest jointly with Allianz and follows the successful close of the Allianz European Infrastructure Fund (AEIF), which was raised last year.

The AGDIEF will pursue primary fund commitments, secondary transactions, and co-investments globally to build a diversified portfolio of core, core+, and value-add infrastructure assets. Target sectors include energy, transportation, communication, environmental and social infrastructure. Whereas the focus of the AEIF is on direct investments in core infrastructure assets in the Eurozone, the AGDIEF aims to deliver attractive risk-adjusted returns through a highly diversified global infrastructure portfolio. As is the case for the AEIF, the AGDIEF will be pursuing a co-investment approach with Allianz as Allianz will contribute at least the same amount as third-party investors commit to the target investments, thus ensuring strong alignment of interest.